VANCOUVER WEST FEBRUARY TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release notes that sales of all residential properties last month are 26.9 percent above the 10 year average for February. However they are still down by 8.1 percent compared to February 2021. Our sharp ascent in pricing gets an extension because the market remains undersupplied to meet demand and last month the composite value of all properties is 20.7 percent higher than the previous February. However we do see a modest inventory bump as new listings last month increase 8.4 percent from February a year ago. Still, total inventory of listed properties falls 19.3 percent year to year.
From January to February the graph shows a 3.4 percent appreciation in value for the average attached unit in Metro Vancouver. Last month compared to the previous February the benchmark townhouse price is up 27.2 percent. Year to year the volume of townhome sales is down 24 percent.
Vancouver west townhouse prices are up 17.4 percent from February to February. Attached unit sales decline 15.9 percent year to year. This February versus February 2021 inventory is 43.9 percent higher.
West side attached sales increase 49 percent from January to February. Month to month Vancouver west attached inventory shows a 6.5 percent gain.